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Grid Metals Reports Wide Zones of Nickel Mineralization and Higher Grade Core at Bannockburn Nickel Property
TORONTO, ON / ACCESSWIRE / January 27, 2022 / Grid Metals Corp. (the " Company ") (TSXV:GRDM...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Reports Wide Zones of Nickel Mineralization and Higher Grade Core at Bannockburn Nickel PropertyTORONTO, ON / ACCESSWIRE / January 27, 2022 / Grid Metals Corp. (the \"Company\") (TSXV:GRDM)(OTCQB:MSMGF) is pleased to announce additional results from its 2021 drilling program on its 100% owned Bannockburn Nickel Sulfide Property (the \"Property\") located in the Matachewan area of northeastern Ontario, approximately 100 km south of Timmins. Drilling has intercepted wide intervals of nickel-bearing ultramafic rocks in each of the 5 holes reported to date. The holes cover ~700 metres of the strike length of the B Zone bulk tonnage nickel sulfide target located within a >2km long serpentinized ultramafic complex in the northern part of the Property.KEY TAKEAWAYSBroad intervals of nickel-enrichment have now been intersected in multiple holes including 193.5 metres of 0.31% Ni in hole GBN21-04The new results also include higher grade intervals including 28.5m of 0.40% nickel and 22.5m of 0.41% nickel in hole GBN21- 04The new drilling expands the width of the B Zone to the east and the zone remains open to the north and south of historical and recent drilling and below its current drill-defined depth of ~250 metresThe host ultramafic body has been mapped over a strike length of >2 km and reaches a maximum width of 800 metresResults for four additional drill holes are included in this release. Analytical highlights are provided in Table 1. Hole locations are given in Figure 1 and hole specifications are listed in the Appendix. Results for drill hole GBN21-02, previously reported (see the Company's June 2021 news release), include 296.5 metres averaging 0.28% nickel with a 112.0 metre section averaging 0.32% nickel. The best results from the newly reported drill holes are from hole GBN21-04, located at the northern end of the >1.2 km long B Zone target.TABLE 1. Selected length-weighted total nickel grades for drill holes GBN21-01, GBN21-02 (previously released), GBN21-04, GBN21-06 and GBN21-08 from the B Zone Target, Bannockburn Nickel Property. True thicknesses are estimated to range from 60-90% of the reported interval lengths for holes GBN21-01, 04 and 07. Hole GBN21-06 was drilled along the dip direction to determine the depth extent of the B Zone.Hole NumberFrom (m)To(m)Length (m)Ni(%)GBN21-0171.50232.39160.890....